Building contractors keen on having their own insurance company

The Egyptian Federation of Construction and Building Contractors recommends that its members set up an insurance company.

If successful, this project is going to provide entrepreneurs with easier access to bank financing. This resolution comes a month after the announcement by the Government of a massive building program which is designed, among others, for the establishment of a new capital near Cairo.

The cost of the first phase of this project is estimated at 45 billion USD.
There are also plans to build one million low cost housings in 13 regions of the country.